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|--------------------------------------------------------- | ------- | --------- | ------------- | ----- | -------------- |  | ----------------------- |  | --------------- |  | --------- |  |  |  | -------------- | 
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|Morgan Stanley Dean Witter Capital I Inc. Series 2003-NC4
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|2003 Annual Statement                                    
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | DISTRIBUTION IN DOLLARS |  |                 |  |           |  | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  | ENDING BALANCE | 
|PERIOD                                                    |         | CLASS     |               | CUSIP |                |  | INTEREST                |  |                 |  | PRINCIPAL |  | 
|200305                                                    | A-1     | 61746WG38 | $538,071.55   |       | $2,651,512.13  |  | $382,153,487.87         | 
|200306                                                    | A-1     | 61746WG38 | $554,122.56   |       | $2,806,401.41  |  | $379,347,086.45         | 
|200307                                                    | A-1     | 61746WG38 | $478,925.70   |       | $4,081,703.47  |  | $375,265,382.98         | 
|200308                                                    | A-1     | 61746WG38 | $510,569.40   |       | $9,221,079.62  |  | $366,044,303.36         | 
|200309                                                    | A-1     | 61746WG38 | $501,175.66   |       | $7,743,611.12  |  | $358,300,692.25         | 
|200310                                                    | A-1     | 61746WG38 | $509,583.21   |       | $12,109,174.20 |  | $346,191,518.04         | 
|200311                                                    | A-1     | 61746WG38 | $446,202.40   |       | $12,819,287.09 |  | $333,372,230.95         | 
|200312                                                    | A-1     | 61746WG38 | $458,954.01   |       | $11,896,313.21 |  | $321,475,917.74         | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $3,997,604.49           |  | $63,329,082.26  |  |           |  | 
|200305                                                    | A-2     | 61746WF47 | $172,625.46   |       | $1,221,886.37  |  | $130,278,113.63         | 
|200306                                                    | A-2     | 61746WF47 | $177,359.18   |       | $1,870,898.09  |  | $128,407,215.54         | 
|200307                                                    | A-2     | 61746WF47 | $150,343.45   |       | $2,069,890.55  |  | $126,337,324.99         | 
|200308                                                    | A-2     | 61746WF47 | $159,922.00   |       | $4,293,247.01  |  | $122,044,077.98         | 
|200309                                                    | A-2     | 61746WF47 | $155,538.40   |       | $3,621,635.68  |  | $118,422,442.30         | 
|200310                                                    | A-2     | 61746WF47 | $156,843.95   |       | $3,933,298.81  |  | $114,489,143.49         | 
|200311                                                    | A-2     | 61746WF47 | $137,418.77   |       | $5,091,338.59  |  | $109,397,804.90         | 
|200312                                                    | A-2     | 61746WF47 | $140,245.71   |       | $3,690,380.88  |  | $105,707,424.02         | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $1,250,296.92           |  | $25,792,575.98  |  |           |  | 
|200305                                                    | A-3     | 61746WG53 | $75,353.70    |       | $964,788.47    |  | $62,866,211.53          | 
|200306                                                    | A-3     | 61746WG53 | $76,976.18    |       | $1,477,241.21  |  | $61,388,970.32          | 
|200307                                                    | A-3     | 61746WG53 | $63,179.48    |       | $1,634,363.54  |  | $59,754,606.78          | 
|200308                                                    | A-3     | 61746WG53 | $66,891.96    |       | $3,389,902.14  |  | $56,364,704.64          | 
|200309                                                    | A-3     | 61746WG53 | $63,582.52    |       | $2,859,604.98  |  | $53,505,099.67          | 
|200310                                                    | A-3     | 61746WG53 | $62,779.32    |       | $3,105,690.86  |  | $50,399,408.81          | 
|200311                                                    | A-3     | 61746WG53 | $53,591.37    |       | $4,020,066.75  |  | $46,379,342.06          | 
|200312                                                    | A-3     | 61746WG53 | $52,667.93    |       | $2,913,885.45  |  | $43,465,456.61          | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $515,022.46             |  | $20,365,543.39  |  |           |  | 
|200305                                                    | A-4     | 61746WG61 | $56,554.09    |       | $0.00          |  | $40,000,000.00          | 
|200306                                                    | A-4     | 61746WG61 | $58,644.44    |       | $0.00          |  | $40,000,000.00          | 
|200307                                                    | A-4     | 61746WG61 | $51,166.67    |       | $0.00          |  | $40,000,000.00          | 
|200308                                                    | A-4     | 61746WG61 | $55,111.11    |       | $0.00          |  | $40,000,000.00          | 
|200309                                                    | A-4     | 61746WG61 | $55,455.56    |       | $0.00          |  | $40,000,000.00          | 
|200310                                                    | A-4     | 61746WG61 | $57,600.00    |       | $0.00          |  | $40,000,000.00          | 
|200311                                                    | A-4     | 61746WG61 | $52,200.00    |       | $0.00          |  | $40,000,000.00          | 
|200312                                                    | A-4     | 61746WG61 | $55,756.94    |       | $0.00          |  | $40,000,000.00          | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $442,488.81             |  | $0.00           |  |           |  | 
|200305                                                    | B-1     | 61746WF88 | $40,743.45    |       | $0.00          |  | $11,344,000.00          | 
|200306                                                    | B-1     | 61746WF88 | $42,218.59    |       | $0.00          |  | $11,344,000.00          | 
|200307                                                    | B-1     | 61746WF88 | $40,980.20    |       | $0.00          |  | $11,344,000.00          | 
|200308                                                    | B-1     | 61746WF88 | $42,981.16    |       | $0.00          |  | $11,344,000.00          | 
|200309                                                    | B-1     | 61746WF88 | $43,078.84    |       | $0.00          |  | $11,344,000.00          | 
|200310                                                    | B-1     | 61746WF88 | $44,569.32    |       | $0.00          |  | $11,344,000.00          | 
|200311                                                    | B-1     | 61746WF88 | $40,390.94    |       | $0.00          |  | $11,344,000.00          | 
|200312                                                    | B-1     | 61746WF88 | $43,164.31    |       | $0.00          |  | $11,344,000.00          | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $338,126.81             |  | $0.00           |  |           |  | 
|200305                                                    | B-2     | 61746WF96 | $29,810.55    |       | $0.00          |  | $7,563,000.00           | 
|200306                                                    | B-2     | 61746WF96 | $30,888.55    |       | $0.00          |  | $7,563,000.00           | 
|200307                                                    | B-2     | 61746WF96 | $30,157.46    |       | $0.00          |  | $7,563,000.00           | 
|200308                                                    | B-2     | 61746WF96 | $31,586.03    |       | $0.00          |  | $7,563,000.00           | 
|200309                                                    | B-2     | 61746WF96 | $31,651.16    |       | $0.00          |  | $7,563,000.00           | 
|200310                                                    | B-2     | 61746WF96 | $32,739.39    |       | $0.00          |  | $7,563,000.00           | 
|200311                                                    | B-2     | 61746WF96 | $29,670.07    |       | $0.00          |  | $7,563,000.00           | 
|200312                                                    | B-2     | 61746WF96 | $31,708.14    |       | $0.00          |  | $7,563,000.00           | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $248,211.35             |  | $0.00           |  |           |  | 
|200305                                                    | B-3     | 61746WG20 | $32,790.42    |       | $0.00          |  | $8,319,000.00           | 
|200306                                                    | B-3     | 61746WG20 | $33,976.18    |       | $0.00          |  | $8,319,000.00           | 
|200307                                                    | B-3     | 61746WG20 | $33,172.01    |       | $0.00          |  | $8,319,000.00           | 
|200308                                                    | B-3     | 61746WG20 | $34,743.38    |       | $0.00          |  | $8,319,000.00           | 
|200309                                                    | B-3     | 61746WG20 | $34,815.02    |       | $0.00          |  | $8,319,000.00           | 
|200310                                                    | B-3     | 61746WG20 | $36,012.03    |       | $0.00          |  | $8,319,000.00           | 
|200311                                                    | B-3     | 61746WG20 | $32,635.90    |       | $0.00          |  | $8,319,000.00           | 
|200312                                                    | B-3     | 61746WG20 | $34,877.70    |       | $0.00          |  | $8,319,000.00           | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $273,022.64             |  | $0.00           |  |           |  | 
|200305                                                    | M-1     | 61746WF54 | $69,491.17    |       | $0.00          |  | $40,838,000.00          | 
|200306                                                    | M-1     | 61746WF54 | $72,045.04    |       | $0.00          |  | $40,838,000.00          | 
|200307                                                    | M-1     | 61746WF54 | $64,830.33    |       | $0.00          |  | $40,838,000.00          | 
|200308                                                    | M-1     | 61746WF54 | $69,277.13    |       | $0.00          |  | $40,838,000.00          | 
|200309                                                    | M-1     | 61746WF54 | $69,628.79    |       | $0.00          |  | $40,838,000.00          | 
|200310                                                    | M-1     | 61746WF54 | $72,237.88    |       | $0.00          |  | $40,838,000.00          | 
|200311                                                    | M-1     | 61746WF54 | $65,465.58    |       | $0.00          |  | $40,838,000.00          | 
|200312                                                    | M-1     | 61746WF54 | $69,936.49    |       | $0.00          |  | $40,838,000.00          | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $552,912.41             |  | $0.00           |  |           |  | 
|200305                                                    | M-2     | 61746WF62 | $107,336.68   |       | $0.00          |  | $41,595,000.00          | 
|200306                                                    | M-2     | 61746WF62 | $111,243.52   |       | $0.00          |  | $41,595,000.00          | 
|200307                                                    | M-2     | 61746WF62 | $105,200.69   |       | $0.00          |  | $41,595,000.00          | 
|200308                                                    | M-2     | 61746WF62 | $111,035.54   |       | $0.00          |  | $41,595,000.00          | 
|200309                                                    | M-2     | 61746WF62 | $111,393.72   |       | $0.00          |  | $41,595,000.00          | 
|200310                                                    | M-2     | 61746WF62 | $115,356.80   |       | $0.00          |  | $41,595,000.00          | 
|200311                                                    | M-2     | 61746WF62 | $104,542.10   |       | $0.00          |  | $41,595,000.00          | 
|200312                                                    | M-2     | 61746WF62 | $111,707.13   |       | $0.00          |  | $41,595,000.00          | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $877,816.18             |  | $0.00           |  |           |  | 
|200305                                                    | M-3     | 61746WF70 | $37,753.18    |       | $0.00          |  | $13,234,000.00          | 
|200306                                                    | M-3     | 61746WF70 | $39,124.85    |       | $0.00          |  | $13,234,000.00          | 
|200307                                                    | M-3     | 61746WF70 | $37,330.91    |       | $0.00          |  | $13,234,000.00          | 
|200308                                                    | M-3     | 61746WF70 | $39,316.01    |       | $0.00          |  | $13,234,000.00          | 
|200309                                                    | M-3     | 61746WF70 | $39,429.97    |       | $0.00          |  | $13,234,000.00          | 
|200310                                                    | M-3     | 61746WF70 | $40,819.54    |       | $0.00          |  | $13,234,000.00          | 
|200311                                                    | M-3     | 61746WF70 | $36,992.71    |       | $0.00          |  | $13,234,000.00          | 
|200312                                                    | M-3     | 61746WF70 | $39,529.68    |       | $0.00          |  | $13,234,000.00          | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $310,296.85             |  | $0.00           |  |           |  | 
|200305                                                    | P       | MS03C4102 | $46,539.44    |       | $0.00          |  | $0.00                   | 
|200306                                                    | P       | MS03C4102 | $85,850.31    |       | $0.00          |  | $0.00                   | 
|200307                                                    | P       | MS03C4102 | $108,619.27   |       | $0.00          |  | $0.00                   | 
|200308                                                    | P       | MS03C4102 | $301,353.65   |       | $0.00          |  | $0.00                   | 
|200309                                                    | P       | MS03C4102 | $288,225.58   |       | $0.00          |  | $0.00                   | 
|200310                                                    | P       | MS03C4102 | $412,315.95   |       | $0.00          |  | $0.00                   | 
|200311                                                    | P       | MS03C4102 | $461,375.44   |       | $0.00          |  | $0.00                   | 
|200312                                                    | P       | MS03C4102 | $400,566.84   |       | $0.00          |  | $0.00                   | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $2,104,846.48           |  | $0.00           |  |           |  | 
|200305                                                    | REMIC I | MS03C4201 | $4,457,416.80 |       | $4,838,466.37  |  | $751,425,431.23         | 
|200306                                                    | REMIC I | MS03C4201 | $4,427,269.52 |       | $6,154,540.70  |  | $745,270,890.53         | 
|200307                                                    | REMIC I | MS03C4201 | $4,389,078.25 |       | $7,785,957.56  |  | $737,484,932.97         | 
|200308                                                    | REMIC I | MS03C4201 | $4,341,910.04 |       | $16,904,228.77 |  | $720,580,704.20         | 
|200309                                                    | REMIC I | MS03C4201 | $4,240,864.30 |       | $14,224,851.76 |  | $706,355,852.44         | 
|200310                                                    | REMIC I | MS03C4201 | $4,153,216.81 |       | $19,148,163.88 |  | $687,207,688.56         | 
|200311                                                    | REMIC I | MS03C4201 | $4,035,938.53 |       | $21,930,692.41 |  | $665,276,996.15         | 
|200312                                                    | REMIC I | MS03C4201 | $3,903,951.78 |       | $18,463,713.26 |  | $646,776,416.61         | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $33,949,646.03          |  | $109,450,614.71 |  |           |  | 
|200305                                                    | UT-R    | MS03C4103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200306                                                    | UT-R    | MS03C4103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200307                                                    | UT-R    | MS03C4103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200308                                                    | UT-R    | MS03C4103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200309                                                    | UT-R    | MS03C4103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200310                                                    | UT-R    | MS03C4103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200311                                                    | UT-R    | MS03C4103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200312                                                    | UT-R    | MS03C4103 | $0.00         |       | $0.00          |  | $0.00                   | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $0.00                   |  | $0.00           |  |           |  | 
|200305                                                    | X       | MS03C4101 | $3,296,886.55 |       | $279.39        |  | $13,234,618.21          | 
|200306                                                    | X       | MS03C4101 | $3,230,670.41 |       | $0.00          |  | $13,234,618.21          | 
|200307                                                    | X       | MS03C4101 | $3,333,791.32 |       | $0.00          |  | $13,234,618.21          | 
|200308                                                    | X       | MS03C4101 | $3,220,476.25 |       | $0.00          |  | $13,234,618.21          | 
|200309                                                    | X       | MS03C4101 | $3,135,114.50 |       | $0.00          |  | $13,234,618.21          | 
|200310                                                    | X       | MS03C4101 | $3,024,675.05 |       | $0.01          |  | $13,234,618.20          | 
|200311                                                    | X       | MS03C4101 | $3,036,828.01 |       | $0.00          |  | $13,234,618.20          | 
|200312                                                    | X       | MS03C4101 | $2,828,537.46 |       | $0.00          |  | $13,234,618.20          | 
|                                                          |         |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                          |         |           |               |       |                |  | $25,106,979.55          |  | $279.40         |  |           |  | 
|                                                          |         |           |               |       |                |  | $69,967,270.98          |  | $218,938,095.74 |  |           |  |